FIN: INVL Asset Management informs about changes in the names and in the rules of mutual funds managed by the company

OREANDA-NEWS. February 22, 2016. Lithuanian asset management company INVL Asset Management informs about changes in the names of mutual funds managed by the company and in the rules of the Finasta Umbrella Fund (now the INVL Umbrella Fund) and the Finasta Baltic Fund (now the INVL Baltic Fund).

Main changes:

Fund names have been changed to better show their link with the company that manages them, namely INVL Asset Management, and to more clearly indicate their investment regions. The new names are:

The rules of the INVL Umbrella Fund and the INVL Baltic Fund have been changed as follows:

Given that the company’s mutual funds are distributed internationally and in light of distribution fee practices in those countries, the maximum size of this fee has been increased to 5 per cent. Note that a distribution fee of no more than 2 per cent will still apply for fund units that are distributed in Lithuania. Fees for each specific fund are detailed in that fund’s prospectus and on the company’s website www.invl.com.

Revisions have been made to the rights and obligations of the management company and participants and to the procedure for the sale and redemption of units, also more explicitly describing the procedure and conditions for providing account statements and other information to participants;

The possibility of concluding a fund-unit purchase and sale agreement for the acquisition of subfund units at regular intervals is now foreseen;

Based on the newest version of the Bank of Lithuania’s net asset calculation methodology, the procedure for fund valuation has been correspondingly adjusted;

Other changes to the wording and arrangement of information have also been made.